Brand collaborations – how do you work out the commercial structure?

I have a vendor directory website where you can find and book south Asian wedding vendors. One of these vendors who is based in India reached out to us for a collaboration since we have an audience of US-based brides.

I’d like to make this collaboration commercially viable for us as well and wanted to know how to go about this. My initial idea was collaborating on a product together and market it like: VENDOR X BROWN BRIDE where we would get a % of each sale.

Am I on the right track? For e-commerce vendors experienced in these collaborations, I would LOVE your input.

Thanks!